Valuation of services: rules fix taxable value, allocate service portions for works contracts and restaurants. Valuation of taxable services under Section 67 and the Service Tax (Determination of Value) Rules, 2006 treats the gross amount charged as the primary taxable value for monetary consideration; non-monetary or unascertainable consideration is valued by money-equivalence, comparable transactions or prescribed rules. Special rules allocate service portions in works contracts (Rule 2A), money-changing (Rule 2B), and restaurant/outdoor catering services (Rule 2C), while Rule 5 and Rule 6 specify inclusions/exclusions and compounding options exist under the Service Tax Rules, 1994.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Valuation of services: rules fix taxable value, allocate service portions for works contracts and restaurants.
Valuation of taxable services under Section 67 and the Service Tax (Determination of Value) Rules, 2006 treats the gross amount charged as the primary taxable value for monetary consideration; non-monetary or unascertainable consideration is valued by money-equivalence, comparable transactions or prescribed rules. Special rules allocate service portions in works contracts (Rule 2A), money-changing (Rule 2B), and restaurant/outdoor catering services (Rule 2C), while Rule 5 and Rule 6 specify inclusions/exclusions and compounding options exist under the Service Tax Rules, 1994.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
